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made and includes the beneficiary of a deed of trust and any guarantor or insurer of a mortgage. "First Mortgagee" means a mortgagee that has priority over all other mortgages or holders of mortgages encumbering the same Lot or other portions of the Project. The term "Beneficiary" shall be synonymous with the term "Mortgagee." Section 1.12. "Mortgagor" means a Person who mortgages his, her, or its property to another (i.e., the maker of a mortgage), and shall include the trustor of a deed of trust. The term "Trustor" shall be synonymous with the term "Mortgagor." Section 1.13. "Owner" means the record holder or holders of record fee title to a Lot, including Declarant, and any contract sellers under recorded contracts of sale. "Owner" shall not include any persons or entities that holds an interest in a Lot merely as security for performance of an obligation. Section 1.14. "Person" means a natural individual, a corporation, or any other entity with the legal right to hold title to real property. Section 1.15. "Project" means the entire parcel of real property described on Exhibit A. Section 1.16. "Project Easements" refers to all of the reciprocal Easements shown on the attached Parcel Map. Section 1.17. "Project Easement Area" refers to the land underlying the Project Easements. Section 1.18. "Property" means the real property described in the Recitals. Section 1.19. "Rules and Regulations" means any Rules and Regulations for the Warren Avenue Four Owners' Association regulating the use of the Project Easement Area and adopted by the Association pursuant to this Declaration. ARTICLE II. THE PROPERTY Project Subject to Declaration Section 2.01. The entire Project shall be subject to this Declaration. Project Easement Area Section 2.02. The following provisions govern the use and enjoyment of the Project Easement Area: 3